Breda, 21 September 2015 – HYET Holding B.V. today announce the purchase of Ajinomoto Sweeteners Europe S.A.S. (ASE) in Northern France as part of their global expansion. The purchase will ensure all employees at the Gravelines manufacturing site will remain in employment. A trust fund has been set up to ensure security for the factory employees following some initial worries about job cuts from trade unions.
The Share Purchase Agreement (SPA) was today signed by both parties for 100% of the shares of ASE to be transferred from Ajinomoto Co., Inc. (Ajinomoto Co.) to HYET Holding B.V.. The corporate name of ASE will change to HYET Sweet S.A.S. and the share transfer date is set to be finalized on 1st October 2015.
“We are delighted to be able to preserve the Gravelines site and secure a future for all employees. The purchase of ASE will take our company to an exiting new phase. HYET Sweet is one of the leading suppliers of sweeteners in Europe and sells in over 35 countries. With the extensive market experience of HYET Sweet and the expertise in manufacturing of the Gravelines site, we are confident we will strengthen our position in the global sweeteners market”: said Ad Timmermans, CEO of HYET Group.
The Gravelines site was established in 1991 and has been producing Aspartame since 1993. The site was initially named Euro-Aspartame S.A. and owned 50:50 by USA’s NutraSweet and Ajinomoto Co.. It has been Ajinomoto Co.’s 100% subsidiary since 2000 and re-named Ajinomoto Sweeteners Europe S.A.S. in 2006.
HYET Holding B.V. is a sister company of HYET Sweet B.V., which is headquartered in Breda, the Netherlands. HYET Sweet was founded in 2009 and since then has specialised in the supply of sweeteners, which include: Aspartame, Sucralose, Acesulfame-K and Stevia. HYET Sweet has warehouses in the Netherlands, North-America and Canada and sells in over 35 countries.